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The pair has been rallying for the last two hours and if the trend persists, the pair may surpass the upper limit of the formation before long. SWFX traders also somehow share the view that the upcoming breakout may take place soon and is likely to be bullish- almost 57% of all orders are placed to buy the currency couple. However, to confirm this, EUR/CHF has to overcome a formidable resistance at 1.2212/3 represented by four-hour R2, daily R1; 50-hour SMA and the pattern's trend-line.
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